NewsWhore
12-20-2010, 02:50 PM
Central Bank governor Hector Valdez Albizu announced on Friday that the International Monetary Fund (IMF) has approved the fourth review of the stand by agreement. He said the approval is evidence Dominican financial authorities are committed to meet goals and objectives included in the agreement. He said that the prudent management of monetary and fiscal policies has enabled the country to overcome difficulties caused by the international financial crisis and to reactivate productive activities in an environment with low inflation and relative exchange stability.
Valdez Albizu said the approval means the country will soon receive disbursements for 109.5 million Special Draft Rights, equivalent to US$168 million. The approval also releases the start of disbursements of funds pending from the Inter American Development Bank and the World Bank that are included in the National Budget for 2010, prior to the end of the year. Valdez Albizu said that with the new disbursements from the IMF this December, the country will have received 347.3 million in SDRs, or about US$536.8 million.
He explained that still pending are US547.3 million SDRs (US$839.8 million), which would be received between January 2011 and February 2012. He said the funds will contribute to maintain the macroeconomic and exchange rate stability.
More... (http://www.dr1.com/index.html#4)
Valdez Albizu said the approval means the country will soon receive disbursements for 109.5 million Special Draft Rights, equivalent to US$168 million. The approval also releases the start of disbursements of funds pending from the Inter American Development Bank and the World Bank that are included in the National Budget for 2010, prior to the end of the year. Valdez Albizu said that with the new disbursements from the IMF this December, the country will have received 347.3 million in SDRs, or about US$536.8 million.
He explained that still pending are US547.3 million SDRs (US$839.8 million), which would be received between January 2011 and February 2012. He said the funds will contribute to maintain the macroeconomic and exchange rate stability.
More... (http://www.dr1.com/index.html#4)